2024 Mileage Rate Increase. On december 14, 2023, the internal revenue service (irs) announced the 2024 standard mileage rate. The following lists the privately owned vehicle (pov) reimbursement rates for automobiles, motorcycles, and airplanes.

The irs has set the rate at 67 cents per business mile, an increase of 1.5 cents. Washington — the internal revenue service today issued.